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Nonprofit Balance Sheet Framework

By CarolCarrie / October 7, 2019 /
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  If you are struggling to understand a nonprofit balance sheet and other financial statements, then this post is for you! And it’s especially for you if you are not a “numbers person.” Chances are you’ve looked at your organization’s profit and loss report and never thought much about the balance sheet. If that’s the…

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Bad Debt

By CarolCarrie / September 23, 2019 /
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In our last two ports of call on our Chart of Accounts Grand Tour, we visited Accounts and Pledges Receivable and also looked at Accounts Receivable Aging and Due Dates. Today we visit a related topic, bad debt, and take a look at the bad debts entry you need to make in your books. We find…

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Volunteer Travel Expenses

By CarolCarrie / September 3, 2019 /
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In response to our blog post Managing Travel in Nonprofit Organizations, Kate Feibusch from Peten Health asked: “My NPO’s mission is to train health workers in Guatemala. May we pay airline costs for volunteer teachers?  If those teachers also give a donation to the organization which is roughly the amount of their airfare, may we…

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Managing Travel in Nonprofit Organizations

By CarolCarrie / August 5, 2019 /
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Does your nonprofit reimburse travel for staff and volunteers? One of our clients, a youth soccer organization, sends players to a national tournament. The trip entails paying for airfare for the teenagers and chaperones as well as meals and lodging while at the tournament location. Plus there are miscellaneous expenses such as mileage or cab…

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Highlights of ASU 2016-14

By CarolCarrie / July 1, 2019 /
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We have noticed a lot of people searching for more information about ASU 2016-14. If your organization is on a calendar year, you may be going through your annual audit over the summer and having to deal with the new requirements. So we thought we’d give you a giraffe’s eye view of what you need…

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Nonprofit Cash Reserves: What To Do with Too Much Cash?

By CarolCarrie / June 3, 2019 /
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Recently we noticed an enviable problem with several of our clients. What to do with all that cash piling up? Here are stories of three nonprofits with too much cash and how they handled it. At the end of the post we provide more information about reserves and quasi endowment. Organization #1 The first organization…

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Getting Income from Customer Management Software into QuickBooks

By CarolCarrie / January 28, 2019 /
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Organizations use various types software to help manage customers and the revenue process. But that software is often disconnected from the accounting system. Customer and revenue software programs fall into three major categories: Industry-specific customer relationship management (CRM) software. Examples include: ProCare – for child care centers VETbuddy – for veterinarian clinics TherapyNotes – for…

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Major Programs

By CarolCarrie / January 7, 2019 /
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Does your organization have more than one major program service? You get a chance to show off the accomplishments of your organization’s top programs in Form 990. Part III of Form 990 contains three generous spaces to write a description of accomplishments for your organization’s top three programs. If you really have a lot going…

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Charitable Assistance: IRS Requirements

By CarolCarrie / December 3, 2018 /
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Last week we looked at Bridges for Heroes, an organization that provides assistance to veterans for health insurance and costs of health care not covered by insurance. We determined this type of help qualifies as charitable assistance because: Veterans constitute a “charitable class.” Recipients must show need by meeting eligibility requirements But is the charitable…

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Charitable Assistance

By CarolCarrie / November 26, 2018 /
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Jean Ryan started a nonprofit organization called Bridges for Heroes to help veterans and their families with the cost of health insurance, co-pays and deductibles. Does Bridges for Heroes qualify as a 501(c)(3) organization? Is this type of help considered charitable assistance? A Little Background The IRS states, “To be tax-exempt under section 501(c)(3) of the…

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